Pennsylvania Complaint for Specific Performance of Real Estate Contract
Description
How to fill out Complaint For Specific Performance Of Real Estate Contract?
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FAQ
An order of specific performance is generally not granted if any of the following is true: Specific performance would cause severe hardship to the defendant. The contract was unconscionable.
To obtain specific performance, the buyer must show that they were ready and able to perform at the closing. Most importantly, this means that the buyer must show having had appropriate financing, whether in the form of cash or from a lending institution.
?(1) Except as otherwise provided in this Act, specific performance of a 1[contract shall], be enforced when the act agreed to be done is in the performance wholly or partly of a trust. (2) A contract made by a trustee in excess of his powers or in breach of trust cannot be specifically enforced.
Generally, the equitable remedy of specific performance will be granted only if two criteria are met: monetary damages (under the situation) must be inadequate as a remedy, and the subject matter of the contract must be unique.
A specific performance clause is typically enforceable as long as it is fair to both parties, and as long as the injured party can prove that the defendant failed to live up to their obligations and that they (the injured party) lived up to theirs.
A plaintiff is more likely to obtain an order of specific performance in a real estate sale dispute than in many other types of litigation actions. That is because of the inherently unique nature of a parcel of real estate.
One core strategy for defending against the implementation of specific performance is showing there is another adequate remedy at law that should apply instead. For example, the defendant could show this by alleging the item or transaction is not unique enough to require specific performance.
If the seller continues to refuse to complete the transaction, the next step is a specific performance lawsuit. To win, the buyer must show that there was a valid contract for the sale with specific terms and conditions, that the buyer is willing, ready and able to complete the sale, and the seller refuses.